Europe fintech funding round-up: Cryptio, Fung, Financielle and more
Our weekly fintech round-up for you to get the latest funding news from around Europe.
Cryptio raises $10m
Paris-based crypto accounting and reporting platform Cryptio has raised $10 million in a Series A round led by Point Nine.
Other investors include BlueYard, Alven, Coinshares, Avantgarde Finance, Protocol Labs and Draper Associates. Senior executives from Twitter, GoCardless, Fireblocks and Ledger also participated in the round as angel investors.
Cryptio says its software helps close the gap between blockchain and legacy accounting systems, “transforming DeFi, custody, OTC, and exchange data into auditable records for accounting, treasury, and tax filings”.
With the new cash, Cryptio plans to invest in hiring, product development and expanding their offering to publicly traded companies and institutions.
Amsterdam-based crypto start-up Fung has secured $2.7 million in a pre-seed funding round co-led by lobal Founders Capital, Kingsway Capital, Kindred Capital and Karatage.
Fung aims to be the platform that brings together crypto and fiat payments and enable Europe’s small and medium-sized enterprises (SMEs) to accept digital assets.
Fung says it is in the process of becoming fully regulated by the Dutch and Central bank and plans to use the funding to set up the infrastructure required to support crypto and fiat payments.
Financielle raises an undisclosed sum
Manchester-based financial wellness firm Financielle has raised an undisclosed sum in a pre-seed round led by Haatch Ventures.
Angel investors participating in the round include Anthony Morrow, co-founder of Open Money, Tony Prestedge, former COO of Nationwide and CEO of Santander UK, Mark Hartley, founder and CEO of Bankifi, Dalia Aga-Shaw and Lois Day of 3 Sisters Ventures LLP and Rupert Wingate-Saul MD of FWS Advisory.
Financielle was set up in 2018 by sisters Laura Pomfret and Holly Holland to help women become “financially sound”.
Financielle aims to share money strategies that will aid people in “taking control” of their money and help them build “strong financial foundations”. The app claims to have built a community of 40,000 individuals.
KYC and payments platform LoopingOne has secured €800,000 from Ebury and the two companies have also entered into a partnership.
With the investment, LoopingOne aims to further develop its product and start the electronic money institution (EMI) application process at the Dutch Central Bank.
The firm says the partnership with Ebury will also give it the capability to offer multi-currency services to its marketplace customers.
LoopingOne’s platform offers a unified solution for ID verification (KYC) of buyers and sellers, organises split payments & pay-outs to merchants and consumers and allows for full compliance with PSD2/EMI regulations.
abrdn invests in Nucoro
Cloud-native wealth management platform Nucoro announced that abrdn, one of the world’s largest investment companies, has made an investment of an undisclosed sum.
Nucoro says the funding will support the growth and rollout of its cloud-native investment technology.
Nucoro enables financial institutions to build digital savings, investment and wealth management propositions “at speed and scale”.
The firm offers customers features such as automated investing, stock-trading, hybrid advisory and digital wealth management.
